Accelerating Innovation in Orange County
INVESTING IN INNOVATION: UNIVERSITY LAB PARTNERS GRANTED $2 MILLION FOR SCALING INITIATIVES
This funding is instrumental in cultivating a robust life science hub right in the heart of Irvine.
In November of 2023, ULP was selected as one of 60 grantees nationwide to receive a $2 million award from the U.S. Department of Commerce’s Build to Scale grant. The Build to Scale grant is a pivotal initiative by the U.S. Department of Commerce aimed at fostering innovation, supporting technology entrepreneurs, and driving economic growth. The program seeks to enhance inclusive access to entrepreneurial assistance and startup capital. Over 3 years, ULP’s $2 million award will be matched by $2M in local funding and dedicated to scaling its accelerator and commercialization initiatives in Orange County and the broader Southern California region over the next three years. This funding will enable ULP to implement a comprehensive and customized advisory program. This program will specifically assist early-stage life science and medical technology ventures, offering specialized entrepreneurial training and extending access to scientific infrastructure to facilitate commercialization efforts. Additionally, ULP aims to increase early-stage capital access, ultimately leading to the creation of high-wage jobs for a diverse workforce in the region.
Ahmed Zobi, Co-Founder and Chief Executive Officer of Syntr Health Technologies, a resident company at ULP, shared his excitement about the EDA Build to Scale grant. He stated, “I am thrilled to witness ULP being awarded this grant. It holds the potential to assist numerous founders in Irvine, guiding them along the entrepreneurial path and facilitating the scaling of their ventures. The funding is instrumental in cultivating a robust life science hub right in the heart of Irvine.” As the investment takes root and ULP steers its resources towards empowering the next wave of innovators through collaborative initiatives, the broader community can anticipate a flourishing ecosystem of technology and life science startups. The impact of this funding extends beyond the realm of business, with the creation of high- wage jobs emerging as a tangible outcome. Moreover, the commitment to inclusivity in accessing capital and entrepreneurial support reflects a broader vision of driving socioeconomic growth that is both sustainable and equitable.
View the Official Press Release Here
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